Islamabad: Mr. Ahad Khan Cheema, Federal Minister for Economic Affairs, met with Mr. Konstantin Limitovskiy, Vice President of the Asian Infrastructure Investment Bank (AIIB), to discuss matters about the bank’s current projects, pipeline portfolio, and prospects for future funding initiatives in Pakistan. The Economic Affairs Division’s secretary was also present at the meeting.
During his opening remarks, Minister Cheema thanked the AIIB for its unwavering support, especially during the floods in 2022. He applauded the Bank’s involvement in Pakistan and suggested that when investment rises, AIIB could strengthen its senior-level presence in Pakistan.
The Bank’s dedication to the Project Preparation Special Fund (PPSF) for the N-5 Project’s Improvement and Widening preparation work was also recognized by Minister Cheema, who also expressed satisfaction with the AIIB’s contributions to the project’s funding and advancement.
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He underlined how crucial the AIIB’s participation would be to the project’s success.
Minister Cheema highlighted the government’s emphasis on economic expansion and regional connectivity while expressing Pakistan’s great appreciation for AIIB’s assistance in infrastructure development.
He asked the Bank to think about funding the Karachi-Peshawar Motorway (PKM) (M-6) Sukkur-Hyderabad segment, which would complete the motorway system connecting Karachi and Peshawar.
The Economic Affairs Division Secretary asked the AIIB to broaden its portfolio in Pakistan, highlighting the N-5’s strategic significance as a top government project.
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The AIIB Vice President, Mr. Limitovskiy, expressed faith in the Economic Affairs Division’s project evaluation procedure and predicted that any unresolved project difficulties would be promptly resolved. In addition to praising Pakistan’s cooperation in expanding the Bank’s portfolio, he reiterated AIIB’s commitment to giving the N-5 Project priority. He also expressed interest in future investments in Pakistan’s electricity transmission industry from the AIIB.